Carlyle Mandates Goldman Sachs to Sell Stake in Turkey’s Penti

9/28/17

U.S. private equity firm Carlyle Group (CG.O) is looking to sell its 30 percent stake in Turkish lingerie and swimwear retailer Penti and has mandated Goldman Sachs(GS.N) to advise on the sale, three people familiar with the matter said.

The potential deal comes as appetite for Turkish assets has recovered after last year’s failed coup. Despite chronic political worries, investors remain keen for companies that tap into Turkey’s young, fast-growing population.

Penti’s founders, who retained 70 percent of the company after Carlyle bought its stake in 2012, are also looking to sell down their holding and have also mandated Goldman Sachs as adviser, two of the people said.